Monthly Section Steel & Steel Pipe Market Report May 2020
2020-06-10 08:11:19 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
Prices for section steel and steel pipe rebounded by RMB100-200/t (USD14-28/t) in major Chinese domestic markets following the significant price hike of raw materials during the month. The sharp price increase in the steel futures market strengthened market participants' confidence to some extent. Boosted by the upward price trend, most steel mills produced actively and the supply kept increasing. Though the downstream industries recovered day by day, the demand remained not strong enough. In the meantime, end users just purchased according to orders for final products and had no intention to build stocks. Reporting limited sales volumes, traders adopted cautiously optimistic attitudes towards the market prospect and were inactive in supplementing inventories.
Prices for section steel and steel pipe rebounded by RMB100-200/t (USD14-28/t) in major Chinese domestic markets following the significant price hike of raw materials during the month. The sharp price increase in the steel futures market strengthened market participants' confidence to some extent. Boosted by the upward price trend, most steel mills produced actively and the supply kept increasing. Though the downstream industries recovered day by day, the demand remained not strong enough. In the meantime, end users just purchased according to orders for final products and had no intention to build stocks. Reporting limited sales volumes, traders adopted cautiously optimistic attitudes towards the market prospect and were inactive in supplementing inventories.
